Gold Price Drops to Over One-Week Low Amid Reduced Fed Rate Cut Expectations
Monday, 18 March 2024, 04:01
Gold Price Decline
Gold price (XAU/USD) is experiencing a negative trend for three days in a row, touching a low of $2,050 in the Asian trading session.
Factors Contributing to the Drop
- Diminished Fed Rate Cut Expectations: Reduced likelihood of a Federal Reserve rate cut impacted the gold market significantly.
The decline in gold price can be traced back to the altered Fed rate cut expectations.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.